What to Expect at a Life Insurance Medical Exam

Life insurance is one of the most affordable ways to protect your family’s financial security. It’s important for all members of the household to have life insurance. Non-working partners benefit from life insurance too.

Many people stress over the medical exam that often accompanies the application process for life insurance. Don’t stress. The following guide will help you navigate the life insurance buying process and medical exam.

Who Can Get a Life Insurance Policy?

Most people between the ages of 18 and 75 are eligible for life insurance. Working with an insurance sales agency, like us at SelectQuote, can help you get the coverage you need at the best price. We do the hard work for you by providing unbiased comparisons from the highly rated insurance companies we represent.

Even if you have had some health issues, there is a good chance you can still get life insurance. We often help individuals who may have a more difficult time getting coverage, such as cancer survivors or those with diabetes or heart disease, find policies that fit their needs.

How to Get a Life Insurance Policy?

The process for obtaining a policy is simple. Your health plays a large role in the underwriting process and the premiums for your policy. Many of the steps you’ll take will involve your medical history and current health status.

Before the Life Insurance Medical Exam

Prior to your medical exam, you’ll fill out a questionnaire covering your age, health, family health history, lifestyle and a few financial questions. The life insurance company will then send a licensed, third-party paramedical examiner to your home to complete a mini check-up.

Steps to a Life Insurance Medical Exam

The medical exam generally includes two steps:

Step One: Review of your completed medical questionnaire. The paramedical examiner will go over the answers you provided in your questionnaire. Answer their questions truthfully and as fully as possible. Have your primary physician’s information handy. It’s a good idea to also have contact information for any other specialists the insurance company may need to contact.

Step Two: Conduct a brief exam. This includes taking a blood draw and urine sample. The examiner will also gather your height and weight, and take your blood pressure. In some cases, the insurance company may request an EKG. The examiner will bring the necessary equipment to your home.

Plan to spend 30 to 40 minutes for these steps.

What the Life Insurance Medical Exam Screens For

Life insurance companies use your questionnaire and the results of your medical exam to screen for a variety health-related conditions and indicators, including:

  • High blood pressure and/or cholesterol
  • Kidney disease
  • Diabetes/Hyperglycemia
  • Nicotine/Tobacco use
  • Recreational drugs
  • HIV/AIDS
  • Hepatitis
  • Heart disease

Getting Ready for the Life Insurance Medical Exam

There are several steps you can take to prepare in the weeks and days leading up to your medical exam. The nonprofit Life Happens offers 10 tips for taking your medical exam, which include drinking lots of water and eating a healthy diet before exam day.

Cost of a Life Insurance Medical Exam

A life insurance medical exam is completed at no cost to you. Most companies will provide you with a free, confidential report of your results.

What to Expect After the Life Insurance Medical Exam

Once your medical exam is complete, it takes about five to seven days for the lab review and then the insurance company will begin the underwriting process. They may request additional records or information from your physician. Underwriting typically takes six to eight weeks. After the insurance company completes the underwriting process it will offer you a policy.

Don’t stress over the process of obtaining a life insurance policy. Life insurance protects your loved ones in the event something should happen to you. By completing several short steps, you can likely find a policy that works for you. With life insurance in hand, you’ll have peace of mind. You can’t put a price on that.

 

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